Before a license is issued under this chapter by the Examining Board, the applicant shall file with the City Clerk a bond in the amount of $10,000, conditioned that the applicant shall defend, save, keep harmless and indemnify the city from all liabilities, claims, damages, judgments, costs and expenses of every nature and description caused by the willful or negligent conduct of the plumber while engaged in the business of plumbing. The provisions of this section may be satisfied by the applicant depositing with the Clerk an insurance policy providing public liability and property damage insurance to the city and the general public in the same amount as the bond, executed by an insurance company authorized to do business in the state; provided an endorsement, approved as to form by the City Attorney, shall be attached to and become part of each and every such liability insurance policy deposited with the city, and the endorsement shall contain each and every condition of the bond required by the governing body. The obligee of the bond or the beneficiary of the insurance policy shall be the city, and action may be maintained thereon by anyone injured by a breach of the conditions of the bond or of the covenants contained in the required endorsement on the policy of insurance for a period of 1 year after the completion of any plumbing work.
(Prior Code, § 14-114)